24/7 Market News Snapshot 04 November, 2024 – Century Casinos Inc (NASDAQ:CNTY)

November 4, 2024

DENVER, Colo., 04 November, 2024 (247marketnews.com) – (NASDAQ:CNTY) are discussed in this article.
Century Casinos Inc. has demonstrated a remarkable bullish trend recently, with its stock opening at $3.65 and currently trading at approximately $3.681, marking an impressive gain of around 11.21% from the previous close of $3.31. This upward momentum signals increasing investor interest, supported by a trading volume of 502.84K. Analysts recognize the importance of watching for a breakthrough above existing resistance levels, with support showing around $3.50; potential price targets may surpass the $4 mark. Continued emphasis on volume and price action will be essential in forecasting further developments.

In tandem with its financial performance, Century Casinos is celebrating a significant expansion with the launch of the Century Casino & Hotel Caruthersville, which opened its doors on November 1, 2024. This state-of-the-art facility, featuring an investment of approximately $51.9 million, boasts 599 slot machines, nine live table games, and 74 hotel rooms. The new establishment not only enhances the Company’s gaming and hospitality portfolio but also strengthens its foothold in emerging markets.

Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos, conveyed their optimistic outlook regarding the potential regional outreach that the new venue represents, heralding it as a significant opportunity to elevate customer experiences and market presence. Furthermore, the recent reopening of the Wroclaw casino in Poland is expected to alleviate previous operational challenges, demonstrating the Company’s strategic focus on optimizing its offerings.

Financially, for the third quarter of 2024, Century Casinos reported a net operating revenue of $155.7 million, reflecting a modest decline of 3% year-on-year, yet it achieved a commendable 24% growth in earnings from operations, amounting to $17.9 million. A notable 43% decrease in the net loss attributable to shareholders further highlights the operational advancements made amid broader market challenges. With its diverse growth initiatives, Century Casinos is poised to continue delivering exceptional customer experiences while maximizing shareholder value.

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